Teacher Retirement System of Texas Trims Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Teacher Retirement System of Texas cut its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 84.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,640 shares of the industrial products company's stock after selling 1,167,385 shares during the quarter. Teacher Retirement System of Texas owned 0.08% of Tetra Tech worth $6,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its stake in Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock valued at $40,000 after buying an additional 495 shares during the last quarter. Caption Management LLC bought a new stake in shares of Tetra Tech in the 4th quarter worth $40,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Tetra Tech in the 4th quarter worth $63,000. Johnson Financial Group Inc. bought a new stake in shares of Tetra Tech in the 4th quarter worth $61,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Tetra Tech by 734.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock worth $49,000 after purchasing an additional 1,483 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on TTEK shares. KeyCorp upped their price objective on Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Maxim Group lowered Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Robert W. Baird upped their price objective on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $41.00.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK traded down $0.20 during mid-day trading on Monday, reaching $36.40. The stock had a trading volume of 1,075,562 shares, compared to its average volume of 2,576,479. The company has a market cap of $9.59 billion, a P/E ratio of 52.91 and a beta of 0.94. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The business's 50 day moving average price is $34.79 and its 200 day moving average price is $33.94. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned $0.28 EPS. The company's revenue for the quarter was up 25.9% on a year-over-year basis. Research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.065 per share. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Friday, May 23rd. Tetra Tech's dividend payout ratio (DPR) is presently 37.68%.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.